I've met with them and have seen this business model. That was last October and it seemed that they were on the right track, so I gave them another chance.
It was relatively a good plan, but even with one's best plan laid - failure comes when it remains just a plan. It was just a stack of papers; that's about it. There are still players not being paid their winnings by agreed upon schedules, other players are being jerked around by manipulative "management" techniques (sorry, manager is not in right now, will you please go away?), and they still have this roguelike bumbling aura about them. Get a load of the 911 promos they had last month

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